Affinity Federal Credit Union Foun… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

Kelly Watts

Phone

9088603914

Tax Period

2023-01-01 to 2023-12-31

Affinity Federal Credit Union Foundation, founded in 2005, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $260K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $329K exceeded revenue, resulting in a 27% operating deficit.

Mission

To provide members and communities with solutions to improve financial wellness, educational programs that enable self-sufficiency, and support that ensures access to essential healthcare services.

Program Service Accomplishments

Program 1

Expenses: $175,136

Financial support to nonprofit organization that align with our mission.

Program 2

Expenses: $37,263

Financial and social support for individuals living in poverty

Program 3

Expenses: $17,500

Scholarship programs for students

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $237,397

Program Service Revenue $0

Investment Income $24,722

Other Revenue $-2,446

TOTAL REVENUE $259,673

Expense Breakdown

Grants Paid $225,663

Salaries & Benefits $0

Fundraising Expenses $81,983

Program Expenses $229,899

Other Expenses $103,509

TOTAL EXPENSES $329,172

Year-over-Year Comparison

	2023	2022	Change
Revenue	$259,673	$398,525	-0.3%
Expenses	$329,172	$441,593	-0.3%
Net Income	$-69,499	$-43,068	+0.6%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$148,756

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Karla Wallack	Executive Dir.	35.00	Officer	$0	$8,846	$148,756
John Fenton	Chair	0.50	Officer Director	$0	$0	$0
Joseph Herbst	Vice Chair	0.50	Officer Director	$0	$0	$0
Andre Solomon	Treasurer	0.50	Officer Director	$0	$0	$0
Kawanzaa King	Secretary	0.50	Officer Director	$0	$0	$0
Luis Alzate-Duque	Trustee	0.50	Director	$0	$0	$0
Pamela Cohen	Trustee	0.50	Director	$0	$0	$0
Frank Giannelli	Trustee	0.50	Director	$0	$0	$0
Michelle Jansen	Trustee	0.50	Director	$0	$0	$0
Jacquelyn Kearns	Trustee	0.50	Director	$0	$0	$0
MaryAnne Melanson	Trustee	0.50	Director	$0	$0	$0
Sandy Sharp	Trustee	0.50	Director	$0	$0	$0
Shay Wadher	Trustee	0.50	Director	$0	$0	$0
James Reade	Trustee	0.50	Director	$0	$0	$0
Bryan Watkinson	Trustee	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$259,673	$329,172	$734,190	$-69,499
2022	$398,525	$441,593	$788,142	$-43,068
2021	$246,342	$212,711	$573,756	$33,631
2020	$99,213	$154,429	$540,125	$-55,216
2019	$206,274	$160,829	$595,252	$45,445
2018	$229,284	$171,142	$553,591	$58,142

Affinity Federal Credit Union Foundation